Money in Latvia
Latvia - Money
A preliminary estimate revealed that GDP growth slumped in the fourth quarter of last year amid a broad-based slowdown, bringing 2019’s annual expansion down to a three-year low. Cooling manufacturing output growth and sharply contracting mining activity in October–November underpinned the industrial sector’s downturn, while deteriorating consumer confidence in the quarter and a jump in the unemployment rate in December curbed retail sales growth in Q4. On the external front, following a moderate increase in Q3, merchandise exports contracted in October–November and likely dipped again in December, amid faltering trade in the Eurozone. In other news, the government appears to have restored confidence in the country’s financial sector after its year-long crackdown on Latvian banks’ illegal activities, which included money laundering and sanctions dodging.Latvia - Money Data
| 2014 | 2015 | 2016 | 2017 | 2018 | |
|---|---|---|---|---|---|
| Money (annual variation in %) | 11.8 | 13.9 | 7.4 | 5.9 | 14.7 |
Latvia Money Chart
Source: Bank of Latvia and FocusEconomics calculations.
Latvia Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.55 | 0.0 % | Jun 30 |
| Exchange Rate | 1.12 | 0.65 % | Dec 31 |
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Economic News
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Latvia: Inflation ticks down in January
February 11, 2020
Consumer prices fell 0.4% from the previous month in January, on the heels of December’s 0.2% decrease.
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Latvia: Industrial output contracts at the sharpest rate in nearly six years in December
February 3, 2020
Industrial production fell 3.2% in annual working-day adjusted terms in December, contrasting November’s marginal 0.1% uptick.
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Latvia: Growth dips to over three-year low in Q4 2019
January 31, 2020
Annual GDP growth slumped to 1.1% in the final quarter of 2019, according to preliminary national accounts data released by Latvia’s Statistical Institute on 31 January.
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Latvia: Inflation rises in December
January 10, 2020
Consumer prices fell 0.2% from the previous month in December, following November’s 0.3% decrease.
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Latvia: Industrial output contracts in November
January 3, 2020
Industrial production fell 0.2% in annual working-day adjusted terms in November, contrasting October’s 3.0% expansion.
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